Vamsi Vakulabharanam & Rahul De (2016) Growth and Distribution Regimes in India after Independence, The Round Table, 105:6, 621-640, DOI: 10.1080/00358533.2016.1246860
Vamsi Vakulabharanam & Rahul De (2016) Growth and Distribution Regimes in India after Independence, The Round Table, 105:6, 621-640, DOI: 10.1080/00358533.2016.1246860
Pre-eminence of Planning and State Capitalism (1950-67)
Pre-eminence of Planning and State Capitalism (1950-67)
Pre-eminence of Planning and State Capitalism (1950-67) : Class Dynamics & Distributional Effects
Pre-eminence of Planning and State Capitalism (1950-67) : Class Dynamics & Distributional Effects
Pre-eminence of Planning and State Capitalism (1950-67) : Class Dynamics & Distributional Effects
Crisis towards the mid 1960s
Crisis towards the mid 1960s
Data Source: World Bank
Ref for events: Inflation In India: Status and Issues by Y.V. Reddy
Green revolution and populism (1967-80)
Green revolution and populism (1967-80)
Green revolution and populism (1967-80)
FERA: Foreign Exchange Regulation Act, 1973
FERA was a crucial piece of legislation enacted by the Indian government to regulate foreign exchange transactions and control the outflow of foreign currency from the country.
Its implementation aimed to stabilize the Indian economy, which was facing challenges in managing foreign exchange reserves and preventing capital flight.
FERA played a significant role in India’s economic policies until it was eventually replaced by FEMA in 1998.
Historical Context
Pre-FERA Economic Challenges
Example: Balance of Payments Crisis
Objectives of FERA
Controlling Foreign Exchange Transactions
Conserving Foreign Exchange
Key Provisions of FERA
Regulation of Foreign Exchange Transactions
Control over Foreign Securities
Restrictions on Dealings in Foreign Exchange
Amendments to FERA
1976 Amendment
1993 Amendment
Repeal of FERA
Reasons for Repeal
Introduction of FEMA
Foreign Exchange Management Act (FEMA)
Objectives and Scope
Comparison: FERA vs. FEMA
Differences and Improvements
Impact on Indian Economy
FERA’s Impact
FEMA’s Impact
Case Studies
Case 1: Harshad Mehta Scam
Case 2: Hawala Transactions
Green revolution and populism (1967-80): Class dynamics and distributional effects
Growth of certain crops and regions under Green Revolution.
Large landholders and the rural elite benefited the most.
Green revolution and populism (1967-80): Class dynamics and distributional effects
Public Distribution System (PDS) in India - An Overview
Historical Context
Key Objectives of PDS
Components of PDS
Identification of Beneficiaries
Recent Reforms and Developments
Impact of PDS
Rural inequality (1967-80)
Urban inequality (1967-80)
Looming Crisis of the 1970s
High growth with stagnant inequality (1980-91)
High growth with stagnant inequality (1980-91)
High growth with stagnant inequality (1980-91): Class dynamics and distributional effects
High growth with stagnant inequality (1980-91): Class dynamics and distributional effects
High growth with stagnant inequality (1980-91): Class dynamics and distributional effects
See Table 5 and Fig 2.
Deepening twin crisis by the late 1980s
High Growth and Rising Inequality (1991-2012)
High Growth and Rising Inequality (1991-2012)
| (1991-2000) | (2003-2012) |
|---|---|
| Medium growth | High Growth |
| Fiscally disciplined state | High expenditures |
| Unstable investment | High Investment |
| Low exports and high imports | High Exports and Imports |
High Growth and Rising Inequality (1991-2012)
High Growth and Rising Inequality (1991-2012): Class and distributional dynamics
High Growth and Rising Inequality (1991-2012): Class and distributional dynamics
High Growth and Rising Inequality (1991-2012): Class and distributional dynamics
High Growth and Rising Inequality (1991-2012): Class and distributional dynamics
| Year | Wage share of Value Added | Profit share of Value Added |
|---|---|---|
| 1985 | 33% | 16% |
| 2000 | 17% | 30% |
High Growth and Rising Inequality (1991-2012): Class and distributional dynamics